Don't think that using USDT for currency exchange is a lawless territory anymore! The recently announced typical case by the financial prosecution has directly sounded the death knell for the entire 'crypto currency exchange' sector. $BTC $ETH

The case itself is quite simple: someone used USDT as a medium to conduct a cross-border fund transfer of 1.18 billion, resulting in all 5 individuals receiving prison sentences of 2 to 4 years. But if you understand this case, you'll know what 'killing the chicken to scare the monkey' means.

Here comes the key points:

1. The regulatory attitude is completely clear—regardless of whether USDT is a currency, as long as you use it to bypass foreign exchange regulations and achieve illegal conversion between RMB and foreign currencies, it is a crime.

2. The criminal boundary has been clearly defined for the first time—previously there was debate over whether 'virtual currencies count as foreign currencies', but now the answer is here: it doesn't matter if they do or not; what matters is the essence of your actions.

3. Law enforcement efforts have been unprecedentedly strengthened—1.18 billion involved in the case, 2-4 years of actual prison sentences, this is not a joke.

What does this mean?

· Those who are still secretly engaging in USDT currency exchange business should quickly stop.

· Those who think they can evade regulation by using virtual currencies should wake up.

· The entire 'gray currency exchange' industry chain has now been legally boxed in.

More importantly, the signal released by this case is scarier than the case itself—China's regulation of financial activities related to virtual currencies has entered a 'serious' stage. Previously, it may have only involved account bans and card freezes, but now it directly pursues criminal responsibility.

To be honest:

In this field, never challenge the regulatory bottom line. When the legal red line is drawn, the smartest move is not to test the edges but to quickly retreat to a safe zone.

What impact do you think this ruling will have on the crypto sector? Do you still know someone using USDT for currency exchange? 评论区 Let's chat about your views. #USDT脱锚告警